Some customer personal data at South Korea’s second-largest crypto exchange, Bithumb, was reportedly leaked on October 28 after an external unauthorized party accessed one of its internal workplace tools. This is the latest in a string of similar incidents that have cut across crypto companies and traditional financial firms. What Bithumb and Korean Regulators Have […]
South Korea is likely to postpone its crypto income tax for a fourth time, as Newsis reported on October 26, after an official from the presidential office, also known as the Blue House, confirmed that a delay is under discussion. January 2029, when the United States is due to join the OECD’s crypto information-sharing network, […]
Bitcoin’s adverse price developments that began at the start of the previous business week culminated in another nosedive earlier this morning to just over $80,000 on most exchanges. This means that the asset tested this key support for the first time in nearly a month. Here are some of the possible reasons. Pain in Asia […]
South Korea is expanding its crackdown on unregistered exchanges. Financial authorities have ordered blocks on 27 overseas cryptocurrency exchange websites operating without registration in the country. The list includes major platforms such as KuCoin, MEXC, BingX, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, and BitMart. The decision comes after two reviews held on October 6 and […]
South Korean police have opened criminal cases against 26 users of the prediction market platform Polymarket and referred 18 of them to prosecutors over roughly 17.6 billion won, about $12.7 million, in bets tied to political, economic, and social outcomes. The case, disclosed on September 17 through data from Democratic Party lawmaker Yoon Geon-young’s office, […]
South Korea’s Financial Services Commission unveiled a phased roadmap on September 4 for converting stocks, bonds and investment funds into blockchain-based tokens, with the earliest phase due to start in February 2027 once an amendment to the Electronic Registration Act takes effect. The plan links the country’s securities market to a stablecoin payment system that […]
A bizarre error that mistakenly credited Bithumb customers with roughly 620,000 BTC is now producing victories for the South Korean exchange in court. The Seoul Central District Court has ordered one customer to return about $140,400 (194 million won) after they sold BTC mistakenly credited to their account. The court ruled Thursday that the proceeds […]
Ripple has partnered with Jeonbuk Bank in South Korea as the latter prepares to deploy Ripple Payments for cross-border remittances. The deal makes Jeonbuk Bank the first regional bank in the country to deploy the payment service. The main objective is to support businesses that have traditionally faced several days of delays when moving money […]
South Korea’s Seoul Southern District Court has sentenced Delio CEO Jeong Sang-ho to 15 years in prison after finding him guilty of fraud involving nearly 70 billion Korean won ($49.2 million) in customer crypto assets. The 11th Criminal Division, presided over by Judge Jang Chan, handed down the sentence on August 13. The court also […]
South Korean authorities have uncovered a cryptocurrency fraud case that exploited interest in a newly launched blockchain token. The operation targeted XRP holders through a fake investment platform that disappeared after collecting millions of dollars in digital assets. Authorities launched their investigation after an overseas cryptocurrency exchange flagged suspicious transactions. Within three days of receiving […]